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[8-K] SunLink Health Systems, Inc Reports Material Event

Filing Impact
(High)
Filing Sentiment
(Neutral)
Form Type
8-K
Rhea-AI Filing Summary

SunLink Health Systems, Inc. (SSY) filed a Form 8-K to disclose an Amendment to the Amended & Restated Agreement and Plan of Merger with Regional Health Properties, Inc. The amendment, signed 22 June 2025, extends the Merger Agreement’s “Termination Date� from 30 June 2025 to 11 August 2025 (5:00 p.m. ET) and makes a minor clean-up revision.

The extension was needed because neither SunLink nor Regional has yet received their respective shareholder approvals. Both boards determined that the approvals could not be obtained by the original deadline and therefore agreed to push back the outside date. All other material terms of the Merger Agreement remain unchanged. Either party may still terminate the deal if the merger is not consummated by the new deadline.

No financial statements, earnings metrics, or revised merger economics were included in this filing. Exhibit 2.1 contains the full text of the amendment, and an Inline XBRL cover page (Exhibit 104) was provided.

  • The filing reiterates that the joint proxy statement/prospectus will be filed on Form S-4 and urges investors to read it once available.
  • The company restates customary “no offer or solicitationâ€� language and an extensive list of forward-looking risk factors.

Investor takeaway: The merger remains pending but now faces at least a six-week delay, highlighting continued execution risk tied to securing shareholder and regulatory approvals.

SunLink Health Systems, Inc. (SSY) ha depositato un modulo 8-K per comunicare una Modifica all'Accordo e Piano di Fusione Modificato e Ristabilito con Regional Health Properties, Inc. La modifica, firmata il 22 giugno 2025, proroga la "Data di Termine" dell'Accordo di Fusione dal 30 giugno 2025 all'11 agosto 2025 (ore 17:00 ET) e apporta una piccola revisione correttiva.

La proroga si è resa necessaria perché né SunLink né Regional hanno ancora ottenuto le rispettive approvazioni degli azionisti. Entrambi i consigli di amministrazione hanno ritenuto che le approvazioni non potessero essere ottenute entro la scadenza originale e hanno quindi concordato di posticipare la data finale. Tutti gli altri termini sostanziali dell'Accordo di Fusione restano invariati. Ciascuna parte può ancora rescindere l'accordo se la fusione non viene completata entro la nuova scadenza.

Non sono stati inclusi nel deposito bilanci, indicatori di utili o dati economici rivisti della fusione. Il documento Exhibit 2.1 contiene il testo completo della modifica, e una pagina di copertina Inline XBRL (Exhibit 104) è stata fornita.

  • Il deposito ribadisce che la dichiarazione congiunta proxy/prospetto sarà presentata tramite modulo S-4 e invita gli investitori a leggerla non appena sarà disponibile.
  • La società riafferma il consueto linguaggio di “nessuna offerta o sollecitazioneâ€� e un ampio elenco di fattori di rischio prospettici.

Conclusione per gli investitori: La fusione è ancora in sospeso ma ora subirà almeno un ritardo di sei settimane, evidenziando un rischio di esecuzione continuo legato all'ottenimento delle approvazioni degli azionisti e regolamentari.

SunLink Health Systems, Inc. (SSY) presentó un Formulario 8-K para divulgar una Modificación al Acuerdo y Plan de Fusión Enmendado y Restablecido con Regional Health Properties, Inc. La enmienda, firmada el 22 de junio de 2025, extiende la "Fecha de Terminación" del Acuerdo de Fusión del 30 de junio de 2025 al 11 de agosto de 2025 (5:00 p.m. ET) y realiza una pequeña corrección menor.

La extensión fue necesaria porque ni SunLink ni Regional han recibido aún las aprobaciones de sus respectivos accionistas. Ambas juntas directivas determinaron que no se podrían obtener las aprobaciones antes del plazo original y por ello acordaron posponer la fecha límite. Todos los demás términos materiales del Acuerdo de Fusión permanecen sin cambios. Cualquiera de las partes aún puede rescindir el acuerdo si la fusión no se concreta antes del nuevo plazo.

No se incluyeron estados financieros, métricas de ganancias ni datos económicos revisados de la fusión en esta presentación. El Anexo 2.1 contiene el texto completo de la enmienda, y se proporcionó una portada Inline XBRL (Anexo 104).

  • La presentación reitera que la declaración conjunta proxy/prospecto se presentará en el Formulario S-4 e insta a los inversores a leerla cuando esté disponible.
  • La compañía reafirma el lenguaje habitual de “no oferta ni solicitudâ€� y una extensa lista de factores de riesgo prospectivos.

Conclusión para inversores: La fusión sigue pendiente pero ahora enfrenta al menos un retraso de seis semanas, lo que destaca un riesgo continuo de ejecución vinculado a la obtención de aprobaciones accionarias y regulatorias.

SunLink Health Systems, Inc. (SSY)ëŠ� Regional Health Properties, Inc.와ì� 수정ë� 합병 계약 ë°� 계íšì„œì— 대í•� 수정ì•�ì� 공개하기 위해 Form 8-Kë¥� 제출했습니다. 2025ë…� 6ì›� 22ì¼ì— 서명ë� ì� ìˆ˜ì •ì•ˆì€ í•©ë³‘ 계약ì� "종료ì�"ì� 2025ë…� 6ì›� 30ì¼ì—ì„� 2025ë…� 8ì›� 11ì� 오후 5ì‹�(ë™ë¶€ì‹œê°„)ë¡� 연장하며 소소í•� 정리 수정사항ì� í¬í•¨í•˜ê³  있습니다.

연장ì� í•„ìš”í•� ì´ìœ ëŠ� SunLink와 Regional ëª¨ë‘ ì•„ì§ ì£¼ì£¼ 승ì¸ì� 받지 못했ê¸� 때문입니ë‹�. 양사 ì´ì‚¬íšŒëŠ” ì›ëž˜ 기한 ë‚´ì— ìŠ¹ì¸ì� ë°›ì„ ìˆ� 없다ê³� íŒë‹¨í•˜ì—¬ 마ê°ì¼ì„ 연기하기ë¡� í•©ì˜í–ˆìŠµë‹ˆë‹¤. 합병 계약ì� 다른 주요 ì¡°ê±´ë“¤ì€ ë³€ê²½ë˜ì§€ 않았으며, ì–´ëŠ ìª½ë„ ìƒˆë¡œìš� 기한 ë‚´ì— í•©ë³‘ì� 완료ë˜ì§€ 않으ë©� 계약ì� 종료í•� ìˆ� 있습니다.

ì´ë²ˆ 제출ì—는 재무제표, ìˆ˜ìµ ì§€í‘� ë˜ëŠ” 수정ë� 합병 경제ì„� ìžë£Œê°€ í¬í•¨ë˜ì§€ 않았습니ë‹�. Exhibit 2.1ì—는 수정ì•� 전문ì� í¬í•¨ë˜ì–´ 있으ë©�, Inline XBRL 표지(Exhibit 104)ë� 제공ë˜ì—ˆìŠµë‹ˆë‹�.

  • ì´ë²ˆ ì œì¶œì€ ê³µë™ ìœ„ìž„ìž�/설명서가 Form S-4ë¡� 제출ë� ì˜ˆì •ìž„ì„ ìž¬ì°¨ 강조하며 투ìžìžë“¤ì—게 ì´ìš© ê°€ëŠ� ì‹� 반드ì‹� ì½ì–´ë³� ê²ƒì„ ê¶Œê³ í•©ë‹ˆë‹�.
  • 회사ëŠ� 통ìƒì ì¸ “제ì•� ë˜ëŠ” 권유 ì—†ìŒâ€� 문구와 광범위한 미래 위험 ìš”ì¸ ëª©ë¡ì� 재확ì¸í–ˆìŠµë‹ˆë‹�.

투ìžìž� 시사ì �: í•©ë³‘ì€ ì•„ì§ ì§„í–‰ 중ì´ë‚� 최소 6ì£� ì´ìƒì� ì§€ì—°ì´ ì˜ˆìƒë˜ë©°, 주주 ë°� 규제 ìŠ¹ì¸ í™•ë³´ì™€ ê´€ë ¨ëœ ì‹¤í–‰ 리스í¬ê°€ ì§€ì†ë˜ê³� 있ìŒì� ë³´ì—¬ì¤ë‹ˆë‹�.

SunLink Health Systems, Inc. (SSY) a déposé un formulaire 8-K pour divulguer une modification à l'accord et plan de fusion modifié et révisé avec Regional Health Properties, Inc. La modification, signée le 22 juin 2025, prolonge la "date de résiliation" de l'accord de fusion du 30 juin 2025 au 11 août 2025 (17h00 ET) et apporte une légère révision de nettoyage.

Cette prolongation était nécessaire car ni SunLink ni Regional n'ont encore obtenu l'approbation de leurs actionnaires respectifs. Les deux conseils d'administration ont déterminé que les approbations ne pourraient pas être obtenues avant la date limite initiale et ont donc convenu de repousser la date butoir. Tous les autres termes matériels de l'accord de fusion restent inchangés. Chaque partie peut toujours résilier l'accord si la fusion n'est pas finalisée avant la nouvelle date limite.

Aucun état financier, indicateurs de résultats ou données économiques révisées de la fusion n'ont été inclus dans ce dépôt. L'annexe 2.1 contient le texte complet de la modification, et une page de couverture Inline XBRL (Annexe 104) a été fournie.

  • Le dépôt réitère que la déclaration conjointe proxy/prospectus sera déposée sur le formulaire S-4 et encourage les investisseurs à la lire dès qu'elle sera disponible.
  • La société réaffirme le langage habituel de « pas d'offre ni de sollicitation » ainsi qu'une liste étendue de facteurs de risque prospectifs.

Point à retenir pour les investisseurs : La fusion est toujours en attente mais subit désormais un retard d'au moins six semaines, soulignant un risque d'exécution continu lié à l'obtention des approbations des actionnaires et des régulateurs.

SunLink Health Systems, Inc. (SSY) reichte ein Formular 8-K ein, um eine Änderung des geänderten und neu gefassten Fusionsvertrags und -plans mit Regional Health Properties, Inc. offenzulegen. Die am 22. Juni 2025 unterzeichnete Änderung verlängert das "Beendigungsdatum" des Fusionsvertrags vom 30. Juni 2025 auf den 11. August 2025 (17:00 Uhr ET) und enthält eine kleinere Bereinigungsänderung.

Die Verlängerung war erforderlich, da weder SunLink noch Regional ihre jeweiligen Aktionärsgenehmigungen erhalten haben. Beide Vorstände stellten fest, dass die Genehmigungen nicht bis zur ursprünglichen Frist eingeholt werden konnten, und stimmten daher einer Verlängerung des Enddatums zu. Alle anderen wesentlichen Bedingungen des Fusionsvertrags bleiben unverändert. Jede Partei kann den Vertrag weiterhin kündigen, wenn die Fusion bis zum neuen Termin nicht abgeschlossen wird.

In dieser Einreichung wurden keine Finanzberichte, Gewinnkennzahlen oder überarbeitete Fusionsökonomien enthalten. Exhibit 2.1 enthält den vollständigen Text der Änderung, und eine Inline-XBRL-Titelseite (Exhibit 104) wurde bereitgestellt.

  • Die Einreichung wiederholt, dass die gemeinsame Proxy-Erklärung/Prospekt in Formular S-4 eingereicht wird und fordert Investoren auf, diese bei Verfügbarkeit zu lesen.
  • Das Unternehmen bekräftigt die üblichen Formulierungen "kein Angebot oder Aufforderung" sowie eine umfangreiche Liste zukunftsgerichteter Risikofaktoren.

Fazit für Investoren: Die Fusion steht weiterhin aus, wird jedoch mindestens um sechs Wochen verzögert, was auf anhaltende Ausführungsrisiken im Zusammenhang mit der Sicherung von Aktionärs- und behördlichen Genehmigungen hinweist.

Positive
  • Parties reaffirm commitment to the Regional–SunLink merger by mutually extending the outside date, signalling strategic intent to close the deal.
Negative
  • Shareholder approvals still outstanding, indicating potential dissent and adding execution risk.
  • Deadline extension implies prior timeline was unachievable, creating further uncertainty and possible delay-related costs.

Insights

TL;DR: Deadline moved to 11 Aug 2025; shows commitment but highlights lingering approval risk—neutral overall.

The extension keeps the transaction alive without changing consideration or closing conditions, signalling both parties still believe in strategic merits. However, failure to secure shareholder votes by the original cut-off reveals traction issues and adds time-related uncertainty. The outside date is now only six weeks away, leaving limited buffer for regulatory review and proxy distribution. From a deal-arbitrage standpoint, probability of completion is intact yet modestly reduced due to lingering dissent risk. No financial sweeteners accompany the delay, so the market should treat this as procedurally neutral.

TL;DR: Operational impact minimal today; delay underscores execution risk for SSY equity—neutral to slightly negative.

SunLink continues to operate small rural hospitals and pharmacies; cash flow pressure makes merger consummation strategically important. Pushing back the deadline suggests management still envisions synergy benefits, yet inability to line up votes may hint at shareholder skepticism. Absent fresh financials, the filing provides no clarity on integration planning or expected cost savings. For investors, thesis hinges on the merger closing; slippage compresses timeline and could elevate financing costs if macro conditions shift.

SunLink Health Systems, Inc. (SSY) ha depositato un modulo 8-K per comunicare una Modifica all'Accordo e Piano di Fusione Modificato e Ristabilito con Regional Health Properties, Inc. La modifica, firmata il 22 giugno 2025, proroga la "Data di Termine" dell'Accordo di Fusione dal 30 giugno 2025 all'11 agosto 2025 (ore 17:00 ET) e apporta una piccola revisione correttiva.

La proroga si è resa necessaria perché né SunLink né Regional hanno ancora ottenuto le rispettive approvazioni degli azionisti. Entrambi i consigli di amministrazione hanno ritenuto che le approvazioni non potessero essere ottenute entro la scadenza originale e hanno quindi concordato di posticipare la data finale. Tutti gli altri termini sostanziali dell'Accordo di Fusione restano invariati. Ciascuna parte può ancora rescindere l'accordo se la fusione non viene completata entro la nuova scadenza.

Non sono stati inclusi nel deposito bilanci, indicatori di utili o dati economici rivisti della fusione. Il documento Exhibit 2.1 contiene il testo completo della modifica, e una pagina di copertina Inline XBRL (Exhibit 104) è stata fornita.

  • Il deposito ribadisce che la dichiarazione congiunta proxy/prospetto sarà presentata tramite modulo S-4 e invita gli investitori a leggerla non appena sarà disponibile.
  • La società riafferma il consueto linguaggio di “nessuna offerta o sollecitazioneâ€� e un ampio elenco di fattori di rischio prospettici.

Conclusione per gli investitori: La fusione è ancora in sospeso ma ora subirà almeno un ritardo di sei settimane, evidenziando un rischio di esecuzione continuo legato all'ottenimento delle approvazioni degli azionisti e regolamentari.

SunLink Health Systems, Inc. (SSY) presentó un Formulario 8-K para divulgar una Modificación al Acuerdo y Plan de Fusión Enmendado y Restablecido con Regional Health Properties, Inc. La enmienda, firmada el 22 de junio de 2025, extiende la "Fecha de Terminación" del Acuerdo de Fusión del 30 de junio de 2025 al 11 de agosto de 2025 (5:00 p.m. ET) y realiza una pequeña corrección menor.

La extensión fue necesaria porque ni SunLink ni Regional han recibido aún las aprobaciones de sus respectivos accionistas. Ambas juntas directivas determinaron que no se podrían obtener las aprobaciones antes del plazo original y por ello acordaron posponer la fecha límite. Todos los demás términos materiales del Acuerdo de Fusión permanecen sin cambios. Cualquiera de las partes aún puede rescindir el acuerdo si la fusión no se concreta antes del nuevo plazo.

No se incluyeron estados financieros, métricas de ganancias ni datos económicos revisados de la fusión en esta presentación. El Anexo 2.1 contiene el texto completo de la enmienda, y se proporcionó una portada Inline XBRL (Anexo 104).

  • La presentación reitera que la declaración conjunta proxy/prospecto se presentará en el Formulario S-4 e insta a los inversores a leerla cuando esté disponible.
  • La compañía reafirma el lenguaje habitual de “no oferta ni solicitudâ€� y una extensa lista de factores de riesgo prospectivos.

Conclusión para inversores: La fusión sigue pendiente pero ahora enfrenta al menos un retraso de seis semanas, lo que destaca un riesgo continuo de ejecución vinculado a la obtención de aprobaciones accionarias y regulatorias.

SunLink Health Systems, Inc. (SSY)ëŠ� Regional Health Properties, Inc.와ì� 수정ë� 합병 계약 ë°� 계íšì„œì— 대í•� 수정ì•�ì� 공개하기 위해 Form 8-Kë¥� 제출했습니다. 2025ë…� 6ì›� 22ì¼ì— 서명ë� ì� ìˆ˜ì •ì•ˆì€ í•©ë³‘ 계약ì� "종료ì�"ì� 2025ë…� 6ì›� 30ì¼ì—ì„� 2025ë…� 8ì›� 11ì� 오후 5ì‹�(ë™ë¶€ì‹œê°„)ë¡� 연장하며 소소í•� 정리 수정사항ì� í¬í•¨í•˜ê³  있습니다.

연장ì� í•„ìš”í•� ì´ìœ ëŠ� SunLink와 Regional ëª¨ë‘ ì•„ì§ ì£¼ì£¼ 승ì¸ì� 받지 못했ê¸� 때문입니ë‹�. 양사 ì´ì‚¬íšŒëŠ” ì›ëž˜ 기한 ë‚´ì— ìŠ¹ì¸ì� ë°›ì„ ìˆ� 없다ê³� íŒë‹¨í•˜ì—¬ 마ê°ì¼ì„ 연기하기ë¡� í•©ì˜í–ˆìŠµë‹ˆë‹¤. 합병 계약ì� 다른 주요 ì¡°ê±´ë“¤ì€ ë³€ê²½ë˜ì§€ 않았으며, ì–´ëŠ ìª½ë„ ìƒˆë¡œìš� 기한 ë‚´ì— í•©ë³‘ì� 완료ë˜ì§€ 않으ë©� 계약ì� 종료í•� ìˆ� 있습니다.

ì´ë²ˆ 제출ì—는 재무제표, ìˆ˜ìµ ì§€í‘� ë˜ëŠ” 수정ë� 합병 경제ì„� ìžë£Œê°€ í¬í•¨ë˜ì§€ 않았습니ë‹�. Exhibit 2.1ì—는 수정ì•� 전문ì� í¬í•¨ë˜ì–´ 있으ë©�, Inline XBRL 표지(Exhibit 104)ë� 제공ë˜ì—ˆìŠµë‹ˆë‹�.

  • ì´ë²ˆ ì œì¶œì€ ê³µë™ ìœ„ìž„ìž�/설명서가 Form S-4ë¡� 제출ë� ì˜ˆì •ìž„ì„ ìž¬ì°¨ 강조하며 투ìžìžë“¤ì—게 ì´ìš© ê°€ëŠ� ì‹� 반드ì‹� ì½ì–´ë³� ê²ƒì„ ê¶Œê³ í•©ë‹ˆë‹�.
  • 회사ëŠ� 통ìƒì ì¸ “제ì•� ë˜ëŠ” 권유 ì—†ìŒâ€� 문구와 광범위한 미래 위험 ìš”ì¸ ëª©ë¡ì� 재확ì¸í–ˆìŠµë‹ˆë‹�.

투ìžìž� 시사ì �: í•©ë³‘ì€ ì•„ì§ ì§„í–‰ 중ì´ë‚� 최소 6ì£� ì´ìƒì� ì§€ì—°ì´ ì˜ˆìƒë˜ë©°, 주주 ë°� 규제 ìŠ¹ì¸ í™•ë³´ì™€ ê´€ë ¨ëœ ì‹¤í–‰ 리스í¬ê°€ ì§€ì†ë˜ê³� 있ìŒì� ë³´ì—¬ì¤ë‹ˆë‹�.

SunLink Health Systems, Inc. (SSY) a déposé un formulaire 8-K pour divulguer une modification à l'accord et plan de fusion modifié et révisé avec Regional Health Properties, Inc. La modification, signée le 22 juin 2025, prolonge la "date de résiliation" de l'accord de fusion du 30 juin 2025 au 11 août 2025 (17h00 ET) et apporte une légère révision de nettoyage.

Cette prolongation était nécessaire car ni SunLink ni Regional n'ont encore obtenu l'approbation de leurs actionnaires respectifs. Les deux conseils d'administration ont déterminé que les approbations ne pourraient pas être obtenues avant la date limite initiale et ont donc convenu de repousser la date butoir. Tous les autres termes matériels de l'accord de fusion restent inchangés. Chaque partie peut toujours résilier l'accord si la fusion n'est pas finalisée avant la nouvelle date limite.

Aucun état financier, indicateurs de résultats ou données économiques révisées de la fusion n'ont été inclus dans ce dépôt. L'annexe 2.1 contient le texte complet de la modification, et une page de couverture Inline XBRL (Annexe 104) a été fournie.

  • Le dépôt réitère que la déclaration conjointe proxy/prospectus sera déposée sur le formulaire S-4 et encourage les investisseurs à la lire dès qu'elle sera disponible.
  • La société réaffirme le langage habituel de « pas d'offre ni de sollicitation » ainsi qu'une liste étendue de facteurs de risque prospectifs.

Point à retenir pour les investisseurs : La fusion est toujours en attente mais subit désormais un retard d'au moins six semaines, soulignant un risque d'exécution continu lié à l'obtention des approbations des actionnaires et des régulateurs.

SunLink Health Systems, Inc. (SSY) reichte ein Formular 8-K ein, um eine Änderung des geänderten und neu gefassten Fusionsvertrags und -plans mit Regional Health Properties, Inc. offenzulegen. Die am 22. Juni 2025 unterzeichnete Änderung verlängert das "Beendigungsdatum" des Fusionsvertrags vom 30. Juni 2025 auf den 11. August 2025 (17:00 Uhr ET) und enthält eine kleinere Bereinigungsänderung.

Die Verlängerung war erforderlich, da weder SunLink noch Regional ihre jeweiligen Aktionärsgenehmigungen erhalten haben. Beide Vorstände stellten fest, dass die Genehmigungen nicht bis zur ursprünglichen Frist eingeholt werden konnten, und stimmten daher einer Verlängerung des Enddatums zu. Alle anderen wesentlichen Bedingungen des Fusionsvertrags bleiben unverändert. Jede Partei kann den Vertrag weiterhin kündigen, wenn die Fusion bis zum neuen Termin nicht abgeschlossen wird.

In dieser Einreichung wurden keine Finanzberichte, Gewinnkennzahlen oder überarbeitete Fusionsökonomien enthalten. Exhibit 2.1 enthält den vollständigen Text der Änderung, und eine Inline-XBRL-Titelseite (Exhibit 104) wurde bereitgestellt.

  • Die Einreichung wiederholt, dass die gemeinsame Proxy-Erklärung/Prospekt in Formular S-4 eingereicht wird und fordert Investoren auf, diese bei Verfügbarkeit zu lesen.
  • Das Unternehmen bekräftigt die üblichen Formulierungen "kein Angebot oder Aufforderung" sowie eine umfangreiche Liste zukunftsgerichteter Risikofaktoren.

Fazit für Investoren: Die Fusion steht weiterhin aus, wird jedoch mindestens um sechs Wochen verzögert, was auf anhaltende Ausführungsrisiken im Zusammenhang mit der Sicherung von Aktionärs- und behördlichen Genehmigungen hinweist.

0000096793false00000967932025-06-222025-06-22

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of report (Date of earliest event reported): June 22, 2025

SunLink Health Systems, Inc.

(Exact Name of Registrant as Specified in its Charter)

Georgia

001-12607

31-0621189

(State or Other Jurisdiction of

(Commission

(I.R.S. Employer

Incorporation)

File Number)

Identification No.)

900 Circle 75 Parkway

Suite 690

Atlanta, Georgia 30339

(Address of Principal Executive Offices, and Zip Code)

(770) 933-7000

(Registrants telephone number, including area code)

Not applicable.

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Shares without par value

SSY

NYSE American

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

 

 

 


 

Item 1.01 Entry Into a Material Definitive Agreement

 

As previously disclosed, on April 14, 2025, SunLink Health Systems, Inc., a Georgia corporation (“SunLink”), and Regional Health Properties, Inc., a Georgia corporation (“Regional”), entered into an Amended and Restated Agreement and Plan of Merger (the “Merger Agreement”) pursuant to which SunLink will merge with and into Regional (the “Merger”), with Regional surviving the Merger as the surviving corporation. The Merger Agreement provides that it may be terminated if the effective time of the Merger shall not have occurred by 5:00 p.m., Eastern time, on June 30, 2025 (“Termination Date”).

 

On June 22, 2025, SunLink and Regional entered into an Amendment to Amended and Restated Agreement and Plan of Merger (the “Amendment”) pursuant to which Regional and SunLink each agreed to extend the “Termination Date” until 5:00 p.m., Eastern time, on August 11, 2025 and make a clarifying clean-up change. SunLink and Regional acknowledge in the Amendment that the Regional Shareholder Approval (as defined in the Merger Agreement, as amended by the Amendment) and the SunLink Shareholder Approval (as defined in the Merger Agreement, as amended by the Amendment) have not been obtained and that Regional and SunLink have reasonably determined that such outstanding approvals will not be obtained by 5:00 p.m., Eastern time, on June 30, 2025. In light of these outstanding approvals, Regional and SunLink determined to approve the Amendment. As amended, the Merger Agreement may be terminated by each of Regional and SunLink under certain circumstances, including if the Merger is not consummated by 5:00 p.m., Eastern time, on August 11, 2025.

 

The foregoing description of the Amendment is qualified in its entirety by reference to the Amendment, a copy of which is filed as Exhibit 2.1 hereto and incorporated herein by reference.

 

Item 9.01 Financial Statements and Exhibits

 

(d) Exhibits

 

 

 

 

 

 

 

 

 

Exhibit

 

Number

 

Description

2.1

 

Amendment to Amended and Restated Agreement and Plan of Merger, dated as of June 22, 2025, by and between Regional Health Properties, Inc. and SunLink Health Systems, Inc.

104

 

Cover page in Inline XBRL format

 

* * *

 

NO OFFER OR SOLICITATION

 

Communications in this Current Report on Form 8-K shall not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any proxy vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended (the “Securities Act”).

 

ADDITIONAL INFORMATION

 

The proposed merger will be submitted to both the SunLink and Regional shareholders for their consideration. In connection with the proposed merger, Regional will file a Registration Statement on Form S-4 (the “Registration Statement”) with the U.S. Securities and Exchange Commission (the “SEC”) that will include a joint proxy statement/prospectus for SunLink and Regional and other relevant documents concerning the proposed merger.

INVESTORS ARE URGED TO READ THE REGISTRATION STATEMENT AND THE CORRESPONDING JOINT PROXY STATEMENT/PROSPECTUS REGARDING THE PROPOSED MERGER WHEN IT BECOMES AVAILABLE, AS WELL AS ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC, TOGETHER WITH ALL AMENDMENTS AND SUPPLEMENTS TO THOSE DOCUMENTS, AS THEY WILL CONTAIN IMPORTANT INFORMATION.

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You will be able to obtain a copy of the joint proxy statement/prospectus once filed, as well as other filings containing information about SunLink and Regional, without charge, at the SEC’s website (http://www.sec.gov) or by accessing SunLink’s website (http://www.sunlinkhealth.com) under the tab “Investors” or by accessing Regional’s website (http://www.regionalhealthproperties.com) under the tab “Investor Relations.” Copies of the joint proxy statement/prospectus can also be obtained, without charge, by directing a request to Investor Relations, SunLink Health Systems, Inc., 900 Circle 75 Parkway, Suite 690, Atlanta, Georgia, 30339, telephone 770-933-7004 or to Investor Relations, Regional Health Properties, Inc., 1050 Crown Pointe Parkway, Suite 720, Atlanta, Georgia, 30338, telephone 678-869-5116.

SunLink and Regional and certain of their directors and executive officers may be deemed to be participants in the solicitation of proxies from the shareholders of SunLink and Regional in connection with the proposed merger. Information about the directors and executive officers of SunLink is set forth in Part III of SunLink’s Amendment No. 1 to Annual Report on Form 10-K/A for the fiscal year ended June 30, 2024, which information may be updated by SunLink from time to time in subsequent filings with the SEC. Information about the directors and executive officers of Regional is set forth in Part III of Regional’s Annual Report on Form 10-K for the year ended December 31, 2024, which information may be updated by Regional from time to time in subsequent filings with the SEC. Additional information about the interests of those participants and other persons who may be deemed participants in the transaction may also be obtained by reading the joint proxy statement/prospectus relating to the proposed merger when it becomes available. Free copies of this document may be obtained as described above.

 

Cautionary Note Regarding Forward-Looking Statements

This Current Report on Form 8-K contains forward-looking statements made pursuant to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements can often, but not always, be identified by the use of words like “believe”, “continue”, “pattern”, “estimate”, “project”, “intend”, “anticipate”, “expect” and similar expressions or future or conditional verbs such as “will”, “would”, “should”, “could”, “might”, “can”, “may”, or similar expressions. These forward-looking statements include, but are not limited to, statements relating to the expected timing and benefits of the proposed merger between Regional and SunLink, including statements of Regional’s goals, intentions and expectations; statements regarding Regional’s business plan and growth strategies; and the ability of Regional to meet the continued listing requirements of the NYSE American and to maintain the listing of securities thereon.

These forward-looking statements are subject to significant risks, assumptions and uncertainties that may cause results to differ materially from those set forth in forward-looking statements, including, among other things:

the risk that the businesses of Regional and SunLink will not be integrated successfully or such integration may be more difficult, time-consuming or costly than expected;
expected revenue synergies and cost savings from the merger may not be fully realized or realized within the expected time frame;
revenues following the merger may be lower than expected;
customer, vendor and employee relationships and business operations may be disrupted by the merger;
the ability to obtain required regulatory approvals or the approvals SunLink’s or Regional’s shareholders, and the ability to complete the merger on the expected timeframe;
the costs and effects of litigation and the possible unexpected or adverse outcomes of such litigation;
the ability of Regional and SunLink to meet the continued listing requirements or rules of the NYSE American LLC or the OTCQB, as applicable, and to maintain the listing or trading, as applicable, of securities thereon;
possible changes in economic and business conditions;
the impacts of epidemics, pandemics or other infectious disease outbreaks;

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the existence or exacerbation of general geopolitical instability and uncertainty;
possible changes in monetary and fiscal policies, and laws and regulations;
competitive factors in the healthcare industry;
Regional’s dependence on the operating success of its operators;
the amount of, and Regional’s ability to service, its indebtedness;
covenants in Regional’s debt agreements that may restrict its ability to make investments, incur additional indebtedness and refinance indebtedness on favorable terms;
the effect of increasing healthcare regulation and enforcement on Regional’s operators and the dependence of Regional’s operators on reimbursement from governmental and other third-party payors;
the relatively illiquid nature of real estate investments;
the impact of litigation and rising insurance costs on the business of Regional’s operators;
the effect of Regional’s operators declaring bankruptcy, becoming insolvent or failing to pay rent as due;
the ability of any of Regional’s operators in bankruptcy to reject unexpired lease obligations and to impede its ability to collect unpaid rent or interest during the pendency of a bankruptcy proceeding and retain security deposits for the debtor’s obligations;
Regional’s ability to find replacement operators and the impact of unforeseen costs in acquiring new properties; and
other risks and factors identified in (i) SunLink’s cautionary language included under the headings “Forward-Looking Statements” and “Risk Factors” in SunLink’s Annual Report on Form 10-K for the year ended June 30, 2024, and other documents subsequently filed by SunLink with the SEC and (ii) Regional’s cautionary language included under the headings “Statement Regarding Forward-Looking Statements” and “Risk Factors” in Regional’s Annual Report on Form 10-K for the year ended December 31, 2024, and other documents subsequently filed by Regional with the SEC.

Neither SunLink nor Regional undertake any obligation to update any forward-looking statement, whether written or oral, relating to the matters discussed in this Current Report on Form 8-K. In addition, SunLink’s and Regional’s past results of operations do not necessarily indicate either of their anticipated future results, whether the merger is effectuated or not.

 

 

 

 

 

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SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

SUNLINK HEALTH SYSTEMS, INC.

Date: June 23, 2025

/s/ Mark J. Stockslager

 

Mark J. Stockslager

 

Chief Financial Officer

 

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FAQ

Why did SunLink (SSY) extend the merger termination date?

Because neither SunLink nor Regional had secured shareholder approvals by 30 June 2025, necessitating additional time.

What is the new outside date for the SunLink-Regional merger to close?

The merger must now close by 5:00 p.m. ET on 11 August 2025 or either party may terminate.

Did the amendment change the merger consideration or other key terms?

No. The filing states only a deadline extension and a minor clean-up edit; all other terms remain the same.

Are financial statements or updated synergy estimates included?

No financial statements, earnings metrics, or revised synergy projections were provided in this Form 8-K.

What are the next steps for SunLink shareholders regarding the merger?

Shareholders should review the forthcoming Form S-4 joint proxy statement/prospectus and vote when solicitations begin.
Sunlink Hlth

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